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Countries Gold Reserves.
- Thread starter forcetrip
- Start date
Skull and Bones
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- Jan 29, 2011
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Does gold ETF count? I have a huge holding in gold ETF, and i'm eager to sell it, anyone interested? 
Gold Rush: India to mine 20,000 tons gold reserves
India is all set to go for a gold hunt now. Concerned over its increased dependence on bullion imports, government of India has asked Geological Survey of India (GSI) to tap the countries potential to dig out gold and diamond reserves spread over several states.
India is estimated to have 20,000 tonnes of gold and diamond reserves spread over several states. The Indian government has asked GSI to explore additional reserves of gold and diamonds in Andhra Pradesh, Karnataka, Madhya Pradesh, West Bengal, Rajasthan, Bihar and Chhattisgarh.
India has been the top importer of gold for several years and the Indian government is concerned over its over-dependence on imports for its bullion needs.
The concern increased during the recession time when prices of gold shot up beyond $1,000 per ounce in the international markets. Moreover, gold has become the safest have available for investors at present.
The government has given GSI three years to explore the possibilities to tap the gold reserves.
Now, India is estimated to have 14,000 tonnes of gold and diamond reserves which should be accelerated by 20,000 tonnes in next three years.
The government has also accorded the public sector company Hindustan Copper Ltd to diversify into gold and diamond mining in collaboration with leading foreign companies through setting up of joint ventures.
The overseas firms that are in talks with the government for gold and mining exploration include Indogold, Anglo-American Gold Mining, Monarach Gold Mining, De Beers India Ltd, ACC Rio Tinto Exploration Ltd and BHP Minerals.
The Indian government is taking all initiatives to channelise efforts in unearthing high value minerals like gold and diamonds. India imports Rs 65000 crore (US$ 13 billion) worth gold per annum as against Rs 75000 crore (US$ 15 billion) of diamond imports.
India currently produces hardly 0.4% of its gold consumption despite having 9% of global gold reserves under the country's land mass.
Foreign companies rarely come to India because they cannot sell the data they map and can only utilise the information if they venture into mining themselves. Under the existing rules if any entrepreneur invests money and finds gold, then he must apply again for mining.
However, the new mining policy is expected to open up the mining sector for foreign investment. Under the new rules, approvals for most minerals must be made in about a year or be automatically referred to a tribunal.
International gold mining companies are looking for tying up with gold exploration firms in India to form joint venture and launch new exploration projects.
Southern India's Deccan region has been surveyed as having one of the richest deposits of the yellow metal.
Gold Rush: India to mine 20,000 tons gold reserves-China Mining
India is all set to go for a gold hunt now. Concerned over its increased dependence on bullion imports, government of India has asked Geological Survey of India (GSI) to tap the countries potential to dig out gold and diamond reserves spread over several states.
India is estimated to have 20,000 tonnes of gold and diamond reserves spread over several states. The Indian government has asked GSI to explore additional reserves of gold and diamonds in Andhra Pradesh, Karnataka, Madhya Pradesh, West Bengal, Rajasthan, Bihar and Chhattisgarh.
India has been the top importer of gold for several years and the Indian government is concerned over its over-dependence on imports for its bullion needs.
The concern increased during the recession time when prices of gold shot up beyond $1,000 per ounce in the international markets. Moreover, gold has become the safest have available for investors at present.
The government has given GSI three years to explore the possibilities to tap the gold reserves.
Now, India is estimated to have 14,000 tonnes of gold and diamond reserves which should be accelerated by 20,000 tonnes in next three years.
The government has also accorded the public sector company Hindustan Copper Ltd to diversify into gold and diamond mining in collaboration with leading foreign companies through setting up of joint ventures.
The overseas firms that are in talks with the government for gold and mining exploration include Indogold, Anglo-American Gold Mining, Monarach Gold Mining, De Beers India Ltd, ACC Rio Tinto Exploration Ltd and BHP Minerals.
The Indian government is taking all initiatives to channelise efforts in unearthing high value minerals like gold and diamonds. India imports Rs 65000 crore (US$ 13 billion) worth gold per annum as against Rs 75000 crore (US$ 15 billion) of diamond imports.
India currently produces hardly 0.4% of its gold consumption despite having 9% of global gold reserves under the country's land mass.
Foreign companies rarely come to India because they cannot sell the data they map and can only utilise the information if they venture into mining themselves. Under the existing rules if any entrepreneur invests money and finds gold, then he must apply again for mining.
However, the new mining policy is expected to open up the mining sector for foreign investment. Under the new rules, approvals for most minerals must be made in about a year or be automatically referred to a tribunal.
International gold mining companies are looking for tying up with gold exploration firms in India to form joint venture and launch new exploration projects.
Southern India's Deccan region has been surveyed as having one of the richest deposits of the yellow metal.
Gold Rush: India to mine 20,000 tons gold reserves-China Mining
forcetrip
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- Apr 24, 2009
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Hopefully this thread will not become a measuring contest. I am sure there might be some country with highest reserves of gold plated watches. The country I am in has 64 tons of gold in reserve. Only interested in that in reference to other countries.
regular
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- Sep 24, 2011
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I guess these figures are the older ones needs latest updates cuz every country is aggressively increasing its Gold reserves to escape the economic collapse when $$$ gonna collapse down......
forcetrip
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How long will it take to actually get the 20000 tons?
---------- Post added at 06:08 PM ---------- Previous post was at 06:07 PM ----------
I guess these figures are the older ones needs latest updates cuz every country is aggressively increasing its Gold reserves to escape the economic collapse when $$$ gonna collapse down......
Do not know if 2010-11 are that old. But if you have any verifiable figures newer than that, you are more than welcome to post them. I would not see a drastic change in the numbers put up. Unlike some world play making china have over 4000 tons in gold something.
China outstripping India in the buy gold market
According to the world gold council, Gold imports by China may increase after investment demand more than doubled in the first quarter, with the country overtaking India to become the largest market for gold coins and bars.
"China produced 340 metric tons of gold last year and consumption was about 700 tons, leaving a gap of 350 tons to 360 tons." Said Albert Cheng, Far East managing director of the council recently.
Buy Gold: China outstripping India in the buy gold market
---------- Post added at 09:10 PM ---------- Previous post was at 09:09 PM ----------
China Buys More Gold Than India
January 14, 2012
China Buys More Gold Than India | Metal Investment News
According to the world gold council, Gold imports by China may increase after investment demand more than doubled in the first quarter, with the country overtaking India to become the largest market for gold coins and bars.
"China produced 340 metric tons of gold last year and consumption was about 700 tons, leaving a gap of 350 tons to 360 tons." Said Albert Cheng, Far East managing director of the council recently.
Buy Gold: China outstripping India in the buy gold market
---------- Post added at 09:10 PM ---------- Previous post was at 09:09 PM ----------
China Buys More Gold Than India
January 14, 2012
China Buys More Gold Than India | Metal Investment News
The Top 5 Gold Producing Countries
http://img4.bbs.**********/uploadfiles/images/2012/02/03/0203205648245.JPG
---------- Post added at 08:59 PM ---------- Previous post was at 08:57 PM ----------
please come, India buy more from China
Latest Data 2011
1. China Top Gold Producer
2. China Top Gold Consumer
3. China Bigger Gold Reserves than India
foxbat
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- Jan 31, 2010
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Be careful, most Pakistanis believe USA is coming in to steal your nuclear weapons and enriched Uranium
JAT BALWAN
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Did you notice.. nobody`s care to reply yet...
Only try to represent your country.... go without visa to China & get boot on @ss
Did you notice.. nobody`s care to reply yet...
Only try to represent your country.... go without visa to China & get boot on @ss
I am telling the truth, you guy just can't argue anymore.
Perceptron
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Just for Kicks !!!
Serpentine
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Iran gold reserves are more than India.that's a bit surprising.
You should add this reserves to Iran's jewerly reserves.the most valuable and largest jewerly collection in the world.
http://en.wikipedia.org/wiki/Iranian_Crown_Jewels
Iranian Crown Jewels are Comprised of World's Greatest Treasures
You should add this reserves to Iran's jewerly reserves.the most valuable and largest jewerly collection in the world.
http://en.wikipedia.org/wiki/Iranian_Crown_Jewels
Iranian Crown Jewels are Comprised of World's Greatest Treasures
KRAIT
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- Jan 14, 2012
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Household gold reserve of india is 18,000 tonnes. 12% of entire gold ever produced.
And why are you surprised, you are oil rich country and land of great persian empire.
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